Comcast: Our future is streaming
January 24, 2020
Comcast expects to be able to make more money from streaming than any other company in the world, so says Steve Burke, chairman of Comcast’s NBCUniversal unit.
Speaking at Comcast’s Q4 earnings release, Burke said that taking account of Comcast’s broadband business and its Flex and Peacock businesses, will be big streaming will be the big money makers. “I think our company is better positioned as the world moves to streaming than any other company in the world…. I think you could argue that in the next 10 to 20 years, if you look at all those three businesses combined, we could make more money in streaming than anyone else.”
Burke said he expects most cable and satellite companies to make a deal with NBCU to provide its Peacock streaming service to their customers. NBCU already has a deal with Cox.
Meanwhile, Comcast’s Sky operation increased subs by 77,000 in boost for its parent company. Over the course of 12 months Sky grew its total ‘customer relationships’ comprising TV, broadband and telephony subscriptions by 394,000. Revenues of $5 billion were level with 2018, ad revenues were hit by new gambling promotion restrictions in the UK and Italy.
Sky’s adjusted EBITDA for the 12 months to December 31st 2019 increased by 7.1 per cent to $3.1 billion.
Comcast cable in the US lost 140,000 video customers in the third quarter, the 11th consecutive quarter of losses.